Crude oil fell $7 to below $95 a barrel in early trading Monday, a seven-month low, as Gulf of Mexico refineries escaped major damage from Hurricane Ike over the weekend, Bloomberg reported Monday.
September 15, 2008Trucking Business News
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
Oil Continues to Fall; DOE Approves Some SPR Releases
Oil prices continued to fall Tuesday, dropping below $92 a barrel in early trading, while Department of Energy approved oil releases from the Strategic Petroleum Reserve to help refineries left with supply shortages due to Hurricane Ike, Bloomberg reported.
September 16, 2008PeopleNet’s eDriver Logs to Integrate with McLeod’s LoadMaster Software
PeopleNet, which provides onboard communications and fleet management systems, said Monday it is integrating its eDriver Logs automated driver log application with LoadMaster dispatch and enterprise software from McLeod Software.
September 15, 2008EPA Allows California to Require On-Board Diagnostics in 2010
In a sweeping decision with possible national implications, the Environmental Protection Agency has granted California a waiver that will allow state environmental regulators to implement stringent new heavy-duty vehicle and engine onboard diagnostics requirements for 2010 engines and beyond.
September 15, 2008EU Sets 10% Biofuels Requirement
The European Parliament’s energy committee voted to require that at least 10% of road transport fuel in 2020 come from renewable sources led by biofuels, while adding checks to prevent food shortages, Bloomberg reported.
September 15, 2008ABF Expands Delivery Services Via Regional Network
ABF Freight System Monday said it has set faster transit times in more than 24,000 station-to-station lanes including 1,300 new next-day lanes and 21,000 new second-day lanes.
September 15, 2008Industrial Production Declines in August
U.S. industrial production fell 1.1% in August, the Federal Reserve said Monday.
September 15, 2008Cummins Plans to Invest $100 Million in Brazil
Cummins Inc., the maker of more than one third of North America’s heavy-duty truck engines, plans to invest another $100 million in Brazil during the next four years to meet higher demand in that country, Bloomberg reported.
September 15, 2008New York Manufacturing Index Shows Contraction
Manufacturing growth in New York state declined this month, showing contraction, the Federal Reserve Bank of New York said Monday.
September 15, 2008Highway Coalition Applauds Rejection of Pa. I-80 Tolls
A coalition of highway users including American Trucking Associations applauded the U.S. Department of Transportation’s decision last week to reject tolls on Interstate 80 in Pennsylvania, though a truckers group in that state warned that officials may seek to privatize the Pennsylvania Turnpike.
September 15, 2008Oil Falls Below $95 as Refineries Escape Major Damage from Hurricane Ike
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